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The EUR/JPY pair initially fell during the day on Friday, but found enough support near the 127.50 level to turn things around and form a positive candle. Because of this, it looks as if we are ready to continue going back and forth overall as the 130 level above is massively resistive. However, we do recognize that the weekly candle is a hammer so that could be somewhat positive. Regardless what happens from here, we believe that there is going to be a lot of volatility in this market and therefore it can to be very difficult to hang onto any trade for any real length of time.

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